Oppenheimer Increases RLJ Lodging Trust (NYSE:RLJ) Price Target to $12.00

RLJ Lodging Trust (NYSE:RLJ) had its price target hoisted by Oppenheimer from $11.00 to $12.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

RLJ has been the topic of several other reports. Truist Financial lowered their price objective on RLJ Lodging Trust from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, October 28th. StockNews.com cut shares of RLJ Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company cut shares of RLJ Lodging Trust from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $11.00 to $9.00 in a research note on Friday, September 13th. Compass Point cut RLJ Lodging Trust from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $10.00 in a report on Monday, August 5th. Finally, Wolfe Research lowered shares of RLJ Lodging Trust from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, RLJ Lodging Trust presently has an average rating of “Hold” and a consensus target price of $11.29.

RLJ Lodging Trust Price Performance

NYSE:RLJ opened at $9.94 on Tuesday. The stock has a market capitalization of $1.52 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. RLJ Lodging Trust has a 52 week low of $8.74 and a 52 week high of $12.39. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average price is $9.25 and its 200-day moving average price is $9.55.

RLJ Lodging Trust (NYSE:RLJ) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.23). RLJ Lodging Trust had a net margin of 5.19% and a return on equity of 3.58%. The business had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $342.93 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that RLJ Lodging Trust will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On RLJ Lodging Trust

Several large investors have recently made changes to their positions in the stock. Cerity Partners LLC raised its position in RLJ Lodging Trust by 12.3% in the third quarter. Cerity Partners LLC now owns 55,310 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 6,039 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of RLJ Lodging Trust by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,592,272 shares of the real estate investment trust’s stock valued at $32,977,000 after buying an additional 170,484 shares during the period. Intech Investment Management LLC acquired a new position in RLJ Lodging Trust during the 3rd quarter worth about $406,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in RLJ Lodging Trust by 25.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,991,625 shares of the real estate investment trust’s stock valued at $18,283,000 after acquiring an additional 400,100 shares during the period. Finally, Metis Global Partners LLC grew its position in RLJ Lodging Trust by 31.0% in the 3rd quarter. Metis Global Partners LLC now owns 15,798 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 3,738 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

RLJ Lodging Trust Company Profile

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.